While digital currency markets have dropped in value during the last two months, weekly non-fungible token (NFT) sales have slid lower as well. Seven-day statistics show that NFT sales managed to rise more than 10% higher than the week prior. One particular NFT sale, Cryptopunk #4,464, helped push this week’s sales volume up as the NFT sold for 2,500 ether or $2.6 million at the time of settlement.
Cryptopunk Sales Increased by 545%, Ronin-Based NFT Sales Climbed 146% Higher, Gaming NFTs Rise Above Art and Digital Collectibles
Weekly NFT sales volume has been much lower during the last two months, as NFT values have mirrored the crypto economy’s bear market losses. This week, however, NFT sales are up 10.82% higher than the week prior, as $147 million was recorded this week in contrast to last week’s $133 million.
The top NFT collection, in terms of sales this past week, was the Cryptopunks collection as sales metrics recorded a whopping 545.36% increase during the past seven days. The Cryptopunks’ sales jump is due to one particular sale that occurred on July 12, which saw Cryptopunk #4,464 sell for 2,500 ETH or $2.6 million.
The second-largest collection, in terms of weekly NFT sales, was the Bored Ape Yacht Club (BAYC) collection, which recorded an increase of 53.25% higher than last week’s sales. Below BAYC’s weekly sales data was Mutant Ape Yacht Club’s (MAYC) sales, after MAYC sales jumped 73% higher than the week before.
Out of 18 different blockchains, Ethereum saw the most NFT sales as $124 million of the $147 million in sales recorded this past week stemmed from the ETH chain. Ethereum’s NFT sales this week increased by 16.99%. The blockchain with the largest weekly NFT sales increase was Ronin as the network saw a spike of around 146%.
Fantom’s NFT sales this week followed Ronin’s increase with a 104% rise during the past seven days. BNB, Immutablex, and Waves NFT sales during the past week saw double-digit declines between 43% and 64% lower than the previous week.
Besides Cryptopunk #4,464’s sale, two more Cryptopunk NFTs made it into the top five most expensive sales this week. Two BAYC NFTs were also included in the top five during the past seven days.
Four days ago, Bored Ape #6,388 sold for 826.29 wrapped ethereum (WETH) or just over $1 million and two days ago, Bored Ape #2,306 sold for 300 WETH or $364K. Cryptopunk #3,614 sold for 275 ether or $336K four days ago, and Cryptopunk #7,901 sold for 260 ether or $271K around 12 hours ago.
Data shows that from August 22, 2021, up until now, NFT sales have been dropping lower and lower each week with a brief upswing in April 2022. While art and digital collectible sales are lower, gaming NFTs have been increasing during the last few weeks.
All-time sales metrics indicate that the Cryptopunks collection is nearing $3 billion in all-time sales with $2.86 billion today. Axie Infinity NFT sales have captured $4.23 billion in all-time sales, and the NFT marketplace Opensea has recorded $31.27 billion in NFT sales to date.
The recent Cryptopunk #4,464 sale increased the collection’s floor value as it is the third highest with the least expensive NFT selling for 76.8 ETH today. BAYC commands the largest floor value with the lowest priced Bored Ape selling for 95 ETH and the second-largest floor value belongs to Proof Collective as the cheapest NFT from that collection is selling for 82 ETH.
What do you think about the last seven days of NFT sales? Let us know what you think about this subject in the comments section below.
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